– WEALTH –
Secure Growth with Guaranteed Returns
Premium Save is designed for individuals who wish to save a lump sum amount and have the option to add an additional monthly savings amount. The miminum lumpsum investment amount is N$50,000.00 and the minimum optional monthly savings amount is N$2,500.00. The Premium Save further provides access to capital on a 90-day notice period without any penalties. Interest on the Premium Save is a guaranteed 10.25 % per annum for the duration of the initial term.
Building Financial Security
A strong savings foundation ensures long-term stability, helping you prepare for unexpected expenses and future financial goals.
Maximising Growth with Guaranteed Interest
With a fixed annual interest rate of up to 14.72%, your savings grow steadily over time through the power of compound interest.
Flexible Savings to Fit Your Need
Start saving with as little as N$250 per month and increase your contributions whenever you’re ready to boost your financial future.
Easy Access with Structured Withdrawals
Plan your financial journey with a 90-day notice period for withdrawals, ensuring disciplined savings while keeping your funds accessible.
Premium Save is the ideal solution for individuals looking to grow their savings with confidence. With a guaranteed interest rate of 10.25 percent per annum, flexible terms, and the option to add monthly contributions, this investment ensures steady growth while keeping your capital secure.
Enjoy the power of compounding interest and access your funds with just 90 days’ notice, all with minimal fees. Take control of your financial future with a savings plan designed for stability and success.
Product Name: Premium Save
Issue Date: July 2022
Guaranteed Interest Rate: 10.25%
Minimum Lumpsum Investment: N$50,000.00
Minimum monthly savings amount (optional): N$2,500.00
Term: 12, 24, 36, 48, 60 months
Administration Fee: 0.25% per annum
Notice Period: 90 Days
General
This document should be read in conjunction with the Premium Save Policy Contract.
Premium Save is designed for individuals who wish to save a lumpsum amount and have the option to add an additional monthly savings amount. The miminum lumpsum investment amount is N$50,000.00 and the minimum optional monthly savings amount is N$2,500.00. Premium Save further provides access to capital on a 90-day notice period without any penalties.
Interest
Interest on Premium Save is a guaranteed 10.25 % per annum for the duration of the initial term. Interest shall be calculated on a daily basis and capitalized monthly. This allows the policyholder to enjoy the benefits of compound interest maximizing capital growth. Interest shall be calculated from the day that the funds reflect in the insurer’s bank account.
Interest will be paid as indicated on the Premium Save Application Form, either monthly, quarterly, annually or on maturity date of the savings term.
Redemption of Capital
The capital paid into Premium Save as a lumpsum, together with all additional monthly savings amounts are guaranteed for the duration of the policy. The redemption of capital will be effected on the maturity date, as indicated on the Premium Save application Form, ether 12. 24, 36, 49 or 60 months.
However, should the policyholder wish to withdraw an amount or terminate the policy prior to the maturity date, 90-days written notice must be given by the policyholder to ensure the Insurer of such intention.
The redemption payment will be made in Namibian Dollars on the redemption date by electronic transfer into the account of the policyholder. It is the responsibility of the policyholder to ensure their account details remain current at the insurer.